Keudell Morrison Wealth Management Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Keudell Morrison Wealth Management reduced its position in NIKE, Inc. (NYSE:NKE) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,064 shares of the footwear maker’s stock after selling 796 shares during the period. Keudell Morrison Wealth Management’s holdings in NIKE were worth $2,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC raised its position in NIKE by 3.6% during the first quarter. Advisory Services Network LLC now owns 45,762 shares of the footwear maker’s stock worth $4,301,000 after acquiring an additional 1,572 shares during the period. Gallacher Capital Management LLC purchased a new stake in shares of NIKE during the first quarter worth $266,000. Concord Investment Counsel Inc. purchased a new stake in shares of NIKE during the first quarter worth $577,000. Duality Advisers LP grew its holdings in shares of NIKE by 77.3% during the first quarter. Duality Advisers LP now owns 42,250 shares of the footwear maker’s stock worth $3,971,000 after buying an additional 18,425 shares in the last quarter. Finally, Empirical Finance LLC grew its holdings in shares of NIKE by 3.5% during the first quarter. Empirical Finance LLC now owns 45,101 shares of the footwear maker’s stock worth $4,239,000 after buying an additional 1,520 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

NIKE stock traded up $0.75 during midday trading on Thursday, reaching $76.07. The company’s stock had a trading volume of 2,049,591 shares, compared to its average volume of 11,510,846. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock’s 50 day simple moving average is $81.68 and its 200 day simple moving average is $84.07. The firm has a market capitalization of $114.06 billion, a PE ratio of 21.57, a P/E/G ratio of 1.88 and a beta of 1.03.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada reduced their price target on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 2nd. Sanford C. Bernstein reduced their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Finally, Guggenheim reduced their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $96.56.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.